Smart TVs add fuel to Xiaomi’s Q1 earnings

TechCrunch | 5/20/2019 | Staff
ditranian (Posted by) Level 3
Click For Photo: https://techcrunch.com/wp-content/uploads/2015/01/img_9832-e1558358280166.jpg?w=751

Chinese smartphone company Xiaomi just released its first quarterly results since announcing its $1.48 billion pledge to focus on smartphones and ‘AIoT’, an acronym for Internet of Things powered by artificial intelligence.

Xiaomi’s adjusted net profit for the first quarter increased 22.4 percent year-over-year to 2.1 billion yuan ($300 million), while total revenue climbed 27.2 percent to 43.8 billion yuan ($6.33 billion).

Sales - India - Xiaomi - Countries - China

Sales in India, where Xiaomi handsets dominate, as well as other countries outside China, continued to be a bright spot for the company. International markets brought in 38 percent of its total revenue over the first quarter, representing a 35 percent increase. Xiaomi’s overseas momentum came amid a global slowdown in the smartphone sector and at a time its rival Huawei copes with a technology ban that threatens to hobble international sales.

Smartphones remained as Xiaomi’s biggest revenue driver, though the segment had shrunk from 67.5 percent of total revenue in Q1 of 2018 to 61.7 percent a year later. According to Canalys, Xiaomi was the world’s fourth-largest smartphone maker by units shipped in the first quarter. A brand traditionally popular among male consumers, Xiaomi has made efforts to court female...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Tagged:
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!